S&P 500 Snapshot: A Record Intraday High but a Fractional Loss for the Day

The S&P 500 spent the day in the second narrowest trading range of the year between its 0.11% intraday high (a record intraday high) and -0.19% intraday low. The index finished the session with a fractional 0.07% loss from yesterday's record close. It elderly cousin the Dow, still on steroids following its close above the popular 20,000 benchmark posted a small gain of 0.16% to achieve another record close.

Here is a snapshot of the past five sessions.

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The yield on the 10-year Treasury note as recorded by the CBOE yield index closed at 2.51% but off its 2.56% intraday high.

Here is a daily chart of the index. Volume was a bit above its 50-day moving average.

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A Perspective on Drawdowns

Here's a snapshot of record highs and selloffs since the 2009 trough.

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Here is a more conventional log-scale chart with drawdowns highlighted.

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Here is a linear scale version of the same chart with the 50- and 200-day moving averages.

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A Perspective on Volatility

For a sense of the correlation between the closing price and intraday volatility, the chart below overlays the S&P 500 since 2007 with the intraday price range. We've also included a 20-day moving average to help identify trends in volatility.

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